Air Passenger Demand 'May Have Hit Bottom' - IATA

The International Air Transport Association, or IATA, said Thursday global passenger demand in air travel appeared to find a floor in May, despite reporting a decline from a year earlier.

IATA said passenger demand last month fell 9.3% year-on-year, following annual declines of 3.1% in April and 11.1% in March. Freight demand dropped 17.4% on the year. In April, cargo demand fell 21.7% from a year earlier.

The 5% cut in passenger capacity last month wasn't enough to keep pace with falling demand, and the load factor, or the proportional of available seats an airline fills, fell to 71.2% from 74.5%, said IATA, which represents some 230 airlines comprising 93% of scheduled international air traffic.

Read Full Article from Wall Street Journal

- Posted: 2009-06-25 09:24:16

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